Downsizing falls flat

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CHRISTINE MORGAN, like many people, thought she had the perfect retirement plan. Come the age of leisure, she would sell her large, family home and downsize to a cheaper property, leaving her with a significant cash surplus to boost her pension pot.

Things have not quite gone to plan. In 2001, when she was 55, Christine was offered an early retirement package by the Royal Mail, where she had worked for 17 years. She accepted, paid off her mortgage and prepared to sell her four-bedroom house in Cardiff.

There was little to prevent Christine from becoming a “free spirit”, unshackled